Postal Services Act 2011

Postal Services Act 2011

2011 CHAPTER 5

Commentary on Sections

Part 4: Special Administration

Restrictions on other insolvency procedures

Section 75: Voluntary winding up

327. This section prevents a universal service provider passing a resolution for voluntary winding up without the permission of the court and sets out conditions on which the court could give permission to allow the voluntary winding up of the company.

328. Subsection (3) stipulates that the court is not to grant permission unless:

a)

notice of the application has been served on the Secretary of State and OFCOM, and

b)

a period of at least 14 days has elapsed since the service of the last of those notices to be served.

329. If an application for a postal administration order is subsequently made before permission is granted, subsection (4) allows the court to exercise its powers under section 71 to make a postal administration order (instead of granting permission).